Trade what you see NOT what you expect | Page 49 | Forex Factory

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Trade what you see NOT what you expect

  • #961
  • Mar 4, 2009 1:15pm Mar 4, 2009 1:15pm
Quoting nyjetfan
Ben - EO is long, as this is one of the setups mentioned before - bounce off the 62 EMA on the hourly chart.

Just a sidenote to folks - if you mostly watch the 15m chart, add a 248EMA to it, as that also just happens to cover 62 hours and while not exact it will be close to where the 62EMA from the hourly is.
good cos i am long, i just doubted myself
  • #962
  • Mar 4, 2009 1:16pm Mar 4, 2009 1:16pm
Quoting Komissar
Couple more things to look at.

I'll watch 4140 again.
Nothing wrong with that... I am also looking to see if we will reenter this little channel...
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Patience + Discipline - Greed = Success
  • #963
  • Mar 4, 2009 1:16pm Mar 4, 2009 1:16pm
I was all set to take a seat on the long bus, then I saw the Philly Beige Book. It paints a very dismal outlook until at least 2010. The market took a look at the report and said "so what?"

So....here I sit, chokin' my chicken until the next bus stop.
Hi, my name is Barry and you can keep your doctor...
  • #964
  • Mar 4, 2009 1:18pm Mar 4, 2009 1:18pm
Quoting cisco
I was all set to take a seat on the long bus, then I saw the Philly Beige Book. It paints a very dismal outlook until at least 2010. The market took a look at the report and said "so what?"

So....here I sit, chokin' my chicken until the next bus stop.
Ah, so you're gonna "get long" one way or the other, eh?
  • #965
  • Mar 4, 2009 1:19pm Mar 4, 2009 1:19pm
theres a shoulder, i tp at 1.41400, anyone else feel its going back south now?
  • #966
  • Mar 4, 2009 1:20pm Mar 4, 2009 1:20pm
Quoting nyjetfan
Ah, so you're gonna "get long" one way or the other, eh?
touche!
Hi, my name is Barry and you can keep your doctor...
  • #967
  • Mar 4, 2009 1:21pm Mar 4, 2009 1:21pm
Quoting nyjetfan
Ben - EO is long, as this is one of the setups mentioned before - bounce off the 62 EMA on the hourly chart.

Just a sidenote to folks - if you mostly watch the 15m chart, add a 248EMA to it, as that also just happens to cover 62 hours and while not exact it will be close to where the 62EMA from the hourly is.
Is this a trade that is taken everytime without question, or is other confirmation needed, like S/R or ema on 15 minute?
  • #968
  • Mar 4, 2009 1:22pm Mar 4, 2009 1:22pm
I took some profit off at 4140. No draw down on that trade, just the spread. Damn, now I wish I would have loaded up a little heavier. I have 1 still open.
Just digging in the trenches like everyone else!
  • #969
  • Mar 4, 2009 1:23pm Mar 4, 2009 1:23pm
Quoting pmn100
Is this a trade that is taken everytime without question, or is other confirmation needed, like S/R or ema on 15 minute?
It was a good trade to take because there were two strong mas in the same area... h1 62ema and m15 50ema.
Patience + Discipline - Greed = Success
  • #970
  • Mar 4, 2009 1:24pm Mar 4, 2009 1:24pm
Quoting pmn100
Is this a trade that is taken everytime without question, or is other confirmation needed, like S/R or ema on 15 minute?
I'm pretty much willing to take it anytime.
Just digging in the trenches like everyone else!
  • #971
  • Mar 4, 2009 1:24pm Mar 4, 2009 1:24pm
Quoting eohater
I took some profit off at 4140. No draw down on that trade, just the spread. Damn, now I wish I would have loaded up a little heavier. I have 1 still open.
I took a very small one as well but closed out fully at 4135.. that was my target because of the small channel...
Patience + Discipline - Greed = Success
  • #972
  • Mar 4, 2009 1:25pm Mar 4, 2009 1:25pm
Quoting Infinity
It was a good trade to take because there were two strong mas in the same area... h1 62ema and m15 50ema.
Even a stronger reason! Thanks bro!
Just digging in the trenches like everyone else!
  • #973
  • Mar 4, 2009 1:26pm Mar 4, 2009 1:26pm
Quoting Infinity
I took a very small one as well but closed out fully at 4135.. that was my target because of the small channel...
Good call bro! Looking at the current 15m shaping up, I'll be considering back south once it closes.
Just digging in the trenches like everyone else!
  • #974
  • Mar 4, 2009 1:26pm Mar 4, 2009 1:26pm
Quoting pmn100
Is this a trade that is taken everytime without question, or is other confirmation needed, like S/R or ema on 15 minute?
For anyone trying to understand the recent trade around the 62EMA - have a scroll back to posts 36 and 37, as I think they discuss the 62EMA trade in some additional details.
  • #975
  • Mar 4, 2009 1:27pm Mar 4, 2009 1:27pm
Quoting Infinity
That's right bro... but that's how it is.. we still have to eat...

Surely if we were at the monitor, we would have reentered on the failure to make a new high after the 10ema bounce.....
Guys, you need to understand what Infinity is referring to on this post. If you don't let us know and we'll go over it.
Just digging in the trenches like everyone else!
  • #976
  • Mar 4, 2009 1:29pm Mar 4, 2009 1:29pm
Quoting Infinity
I took a very small one as well but closed out fully at 4135.. that was my target because of the small channel...
Did you close and reverse? The channel just smacked her in the ass!
Just digging in the trenches like everyone else!
  • #977
  • Mar 4, 2009 1:31pm Mar 4, 2009 1:31pm
Quoting eohater
I'm pretty much willing to take it anytime.
Hi eohater.

So straight off the contact with the 62ema, not waiting for a close on the 15min, or anything?

Thanks
  • #978
  • Mar 4, 2009 1:32pm Mar 4, 2009 1:32pm
Quoting eohater
Guys, you need to understand what Infinity is referring to on this post. If you don't let us know and we'll go over it.
I think I'm following it, so I'll take a shot.

After the first spike into 416x, we had two bearish candles, the second bounced off the 10EMA (on 15m) and then went up and only retested the high in the 416x area without really pushing higher (maybe a pip or two). At close of green candle that bounced off the 10EMA, you could've safely taken it short and ridden from 415x down to 4100.

Did I win a prize?
  • #979
  • Mar 4, 2009 1:34pm Mar 4, 2009 1:34pm
Quoting pmn100
Hi eohater.

So straight off the contact with the 62ema, not waiting for a close on the 15min, or anything?

Thanks
WAIT A MINUTE! We're talking about two different setups here. I'm talking about the 15m cross of the 35/50. Your talking about the 1h 62. The 1h 62 is one that I will take on the first touch without much else to confirm. After she's touched her once during the day, I'm going to watch PA for an entry.
Just digging in the trenches like everyone else!
  • #980
  • Mar 4, 2009 1:34pm Mar 4, 2009 1:34pm
Quoting eohater
Guys, you need to understand what Infinity is referring to on this post. If you don't let us know and we'll go over it.
Here's a short explanation by diagram...
Attached Image
Patience + Discipline - Greed = Success
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